Consulting firm Wavestone has partnered with bank Societe Generale Groupto host the Banking Cybersecurity Innovation Awards for a second year. Participants can submit cybersecurity products for judging by an expert panel before the end of May, with prizes being handed out to four successful contestants in July.

As the quantity and sophistication of cybersecurity incidents continues to ramp up, French bank Societe Generale Group is no different to the rest of the financial sector, as it bids to prioritise the protection of its information systems. Wavestone, meanwhile, is one of Europe's leading consulting firms, and as the consulting industry is increasingly tapped by clients to help adapt their legacy defences to fend off cyberattacks, the firm is adopting innovative approaches to supporting its clients by identifying and minimising these new risks.

In this context, the consulting and banking companies teamed up last year to launch the Banking Cybersecurity Innovation Awards. The contest was open to innovative European startups and SMEs in the cybersecurity sector looking to promote their solutions, and last year was won by three startups: Alsid, Skeyecode and Sqreen.

After a successful inaugural outing in 2017, Societe Generale and Wavestone have joined forces once more this year, to launch the second edition of their challenge for startups and innovative SMEs in cybersecurity. Participants in the Banking Cybersecurity Innovation Awards have until 20 May to submit their products and services across four categories: Grand Prix BCSIA, Customer Data Protection, AI and Fraud Fighting and France Special. Four winners will be announced on July 4th.

Expert jury

The entrants will be presided over by a jury combining expertise and strategic vision on cybersecurity issues, choosing the winners following the two qualifying stages (written proposal and pitching). The jury will convene in Wavestone’s innovative and collaborative workspaces and will be comprised of the firm’s Cybersecurity Partner, Gérôme Billois, CEO Pascal Imbert, and Strategic Development Director Reza Maghsoudnia, alongside a number of other industry experts.

Prizes will be awarded for four categories at a ceremony to be held in the Summer at “Les Dunes”, Societe Generale’s new technology park that embodies the Group’s digital transformation. These include; Grand Prix BCSIA 2018: for the best solution selected by the jury – the winner of which will have the opportunity to test its solution within Societe Generale and to join Wavestone’s startup accelerator programme, Shake’Up; the prizes “Customer Data Protection” and “AI and Fraud Fighting”, whose winners will have the opportunity to present their solution to the Societe Generale Cybersecurity Innovation Committee and at the Wavestone Innovation Corners, and the “France Special” prize, which will see its solution promoted within the French ecosystem.